“Stock certificates and corporate debt will lift up the primary market”
BANKS
Shopping in Europe
NEW YORK | While European companies and banks try to forget this annus horribilis, some US financial firms are rubbing their hands: under pressure from regulators, Europeans will have to shed up to $3 trillion in assets over the next 18 months, according to Morgan Stanley. Market dislocation on this side of the Atlantic means also a great occasion for American companies to go shopping. This month the German Commerzbank…
JP Morgan’s Bruce Kasman: “a tremendous fiscal adjustment” in the horizon for the US
“ECB refinancing auctions means help for Spanish, Italian smaller banks”
The Governing Council of the European Central Bank (ECB) decided last week on additional enhanced credit support measures to support bank lending and liquidity in the euro area. In particular, the Governing Council proposed to conduct two longer-term refinancing operations (LTROs) with a maturity of 36 months and the option of early repayment after one year. Among other measures, the central bank also accorded to reduce the reserve ratio, which is…
“German banks’ capital needs over €9.5bn vs EBA’s €5bn estimation”
Julia Pastor, in Madrid | The European Banking Authority (EBA) this week revised its figures about recapitalisation volumes needed in the EU institutions. Banco Santander analysts say that “speculations about the German banks are circulation. They may have to increase capital by the amount of €9.5bn instead of the €5bn initially estimated by the EBA.” Also, the Santander note reminded us that European banks are still carrying out liability management…
“EU public debt rate is lower than in the US or Japan”
MADRID | If there is something we all can agree on is that there is too much debt worldwide. We can also agree on the fact that it is the developed countries that are suffer this high level of debt, after more than ten years of excesses. This is the opinion of Jose Luis Martínez Campuzano, chief strategist at Citi inSpain, who has expressed his views for Consenso del Mercado. “When…
Weekend link fest
A curated selection of links we hope can enlighten us all; some come from our corner, some do from other corners of the net. And as always, our comment widgets are anxious to get your suggestions: Humor: What service the next president of Spain should call for… Europe is developing rescue fatigue Get used to the euro crisis: it’s the new normal China worried about banks’ loans to construction companies and…
This is why US banks' promises are made to be broken
This is why US banks’ promises are made to be broken
Recapitalisation is a medicine that kills
